191–200 of 802 posts
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> Remember: A trader in the EU is not obligated to accept more than 50 metal coins for the same payment. I shall try and remember that.
This is the most disappointing rule ever. It makes my dream of returning money in thousands of 1 cent coins out of spite impossible
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Why would that be a problem? I can just deposit them like I normally do and use VISA or PayPal while international.
Or you could just carry the credit card and pay at the end of the month, skipping the business with 'stablecoins'.
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Spain's 1,000€ may be the most restrictive, close to Romania's 5,000 lei.
I'm quite sure they are not enforcing it since i was traveling to and walking with across spain with much more.
I wasn't planning on paying in cash but they dily informed me.
We had a guy in Usti nad labem coming to Raiffeisenbank every few weeks and deposing money, approximately 4b usd in total. The bank was supposed to run due diligence but its Raiffeisenbank which does not seem to give a shit. I can sort of understand trying to limit cash when you see that the due diligence is mostly omitted. https://www.irozhlas.cz/zpravy-domov/smenarny-prani-spinavyc...
4 billion dollars! Supposing he carried a large army rucksack each time, full with 25kg of US $100 bills. That would be 2.5 million dollars a time, and it would still take him 1600 trips. If he came "every few weeks" at 20 times a year, it would take him 80 years. A billion dollars really is a lot of money. Perhaps he brought the money by wheelbarrow or car or container truck, or he dealt exclusively in €500 notes, s…
The maximum limit for cash payments in Italy is 1000€, so 3k would still be a lot. Why would someone need to pay for 10k in cash? Where does that cash come from? 60% of the times, it's money laundering every time. edit: I suppose since I'm in EU and I'm only 30 I'm "used" to the 1k limit, while non-EU (or specifically USA) people might be grabbing their pitchforks.
> Why would someone need to pay for 10k in cash? The answer to this is very simple: none of your business. I take strong issue with the word "need." Why do you need that car? That television? That four bedroom house? Why do you need that bow and arrow? For sport, you say? Why not play some ball game instead? Why do you need a chess set when you can play digitally online without killing a tree? Why do you need those f…
The "none of your business" doesn't work in the long run.
If the endgame is to ban cash, what would be the back up plan for in case of war, solar flare* or other natural disaster? *electromagnetic pulse destroy electronic devices (no ATMs, card readers)
If a solar flare powerful enough to destroy the entire electronic payment system were to occur I'm sure everyone will be fine with you buying your storable food and colloidal silver with cash.
The Carrington Event is the "most recent" in 1859 https://en.wikipedia.org/wiki/Carrington_Event
That would in the 2000s cause serious damage
>In June 2013, a joint venture from researchers at Lloyd's of London and Atmospheric and Environmental Research (AER) in the US used data from the Carrington Event to estimate the cost of a similar event in the present to the US alone at US$600 billion to $2.6 trillion (equivalent to $698 billion to $3.02 trillion in 2021[28]),[3] which, at the time, equated to roughly 3.6 to 15.5 per cent of annual GDP.
NOAA currently puts Carrington Events at a 1 in 500 year occurrence on Earth.